Bicara Therapeutics initiated with a Buy at Rodman & Renshaw

Rodman & Renshaw initiated coverage of Bicara Therapeutics (BCAX) with a Buy rating and $48 price target The firm says the opportunity arising from the dual-targeting mechanism of ficerafusp and a higher probability for success in PD-L1-positive head and neck cancers provide for the majority of its valuation for the shares.